Saudi Arabia's Diabetes Devices Market is expected to witness growth from $386 Mn in 2022 to $753 Mn in 2030 with a CAGR of 8.70% for the forecasted year 2022-30. One of the greatest rates of diabetes is found in Saudi Arabia. As more individuals need access to blood glucose monitors, insulin pumps, and other diabetes management tools, this expands the market for diabetes devices. The market is segmented by type and by the end user. Some key players in this market include Aljeel Medical, Alhammad Medical, Medyssey, Johnson & Johnson, Philipps Healthcare, Medtronic, Roche, and Dexcom.
Saudi Arabia's Diabetes Devices Market is expected to witness growth from $386 Mn in 2022 to $753 Mn in 2030 with a CAGR of 8.70% for the forecasted year 2022-30. The general funding for healthcare in Saudi Arabia for 2023 is 4.5% less than it was for 2022. In 2023, healthcare costs will amount to 5.5% of GDP. In Saudi Arabia, men are projected to live to an average age of 75.33 while women can expect to live to an average age of 78.56. Out-of-pocket costs as a percentage of total healthcare spending in Saudi Arabia in 2020 were 16.5%.
One of the greatest rates of diabetes is found in Saudi Arabia. As of 2021, there were 4.2 million adults in Saudi Arabia (20-79 years) who had diabetes, or 17.3% of the adult population. The prevalence of the disease may be even higher because it is believed that there are about 561,000 unrecognized cases of diabetes in Saudi Arabia. Diabetes devices like blood glucose meters and continuous glucose monitoring systems enable diabetics to routinely check their blood glucose levels. They can better control their diabetes, prevent complications, and modify their therapy as necessary thanks to this. Insulin pumps and insulin pens are diabetes tools that make it easier and more precise for individuals with diabetes to administer insulin. By doing so, complications can be avoided and blood glucose regulation can be improved.
Market Growth Drivers
One of the greatest rates of diabetes is found in Saudi Arabia. As more individuals need access to blood glucose monitors, insulin pumps, and other diabetes management tools, this expands the market for diabetes devices. With novel capabilities like continuous glucose monitoring, insulin pumps with closed-loop systems, and smartphone connectivity, diabetes devices are becoming more and more sophisticated. As individuals look for more sophisticated tools for managing their diabetes, technological advancements are predicted to increase the demand for diabetes devices in Saudi Arabia. In Saudi Arabia, where diabetes is an elevated risk factor, an elevated rate of obesity is expanding. Demand for diabetes devices is expected to increase as more individuals require to have access to insulin pumps, blood glucose monitors, and other devices for managing diabetes.
Market Restraints
Some Saudi Arabian diabetic patients may find it difficult to afford the high expense of diabetes devices. The cost of these devices may be prohibitive for many diabetics, which may restrain market expansion. With new players joining the Saudi Arabian diabetes device market and established firms extending their product lines, the market is becoming more and more competitive. Manufacturers may find it challenging to differentiate themselves and capture market share as a result.
Key Players
The regulatory structure and healthcare policies in Saudi Arabia have an immense effect on the market for diabetes devices. The Saudi Arabian government has put in place an abundance of rules and regulations aimed at ensuring both the safety and efficacy of devices, which include those used in the treatment of diabetes. The Saudi Food and Drug Authority (SFDA) is one of the main bodies in Saudi Arabia in terms of regulation. The SFDA is entrusted with handling the regulation of diabetes devices and making sure they abide by global safety and effectiveness standards. The licensing, import, and dissemination of diabetes devices in Saudi Arabia are controlled by rules given forth by the SFDA.
1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Type (Revenue, USD Billion):
The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents
By End User (Revenue, USD Billion):
The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.
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